Senior Specialist, Actuarial Services Expert

2 weeks ago


Toronto, Ontario, Canada CMHC Full time

About the Role:

The Senior Specialist, Actuarial Services position has been created to support the Director of Commercial Solutions - Finance and the Flood Insurance Project Management team. As a subject matter expert, you will be responsible for the valuation of insurance contract liabilities, financial statement modelling, and capital management.

Key Responsibilities:

  • Develop and implement a flood reinsurance program, working with stakeholders to design and implement the corporate actuarial function of the new flood reinsurance entity.
  • Develop policies and guidelines, documenting processes, procedures, and tools used for the valuation of actuarial liabilities, capital reporting, and management, as well as financial statement modelling.
  • Develop and document the assumption-setting process, ensuring compliance with regulatory standards and guidelines.
  • Assess resource needs, including data and software requirements to implement the corporate actuarial function of the flood insurance program.
  • Develop and implement financial statement models to project the flood insurance program's financial and capital position under different economic scenarios.
  • Perform core valuation and financial analyses, such as corporate plan, capital plan, financial condition testing, stress testing, and pricing oversight.
  • Provide financial advice to various groups within the corporation and present findings and recommendations to different committees.
  • Provide technical leadership and coaching to more junior colleagues.

Requirements:

  • Bachelor's degree in a quantitative discipline (actuarial sciences, mathematics, statistics, finance, or economics) and seven years of experience in reserving and financial modelling at an insurance company, reinsurance company, or financial institution.
  • Professional designation (Associate or Fellow of the Canadian Institute of Actuaries, Casualty Actuarial Society, or Society of Actuaries).
  • Understanding of and demonstrated experience with P&C actuarial valuation methodologies, mathematical finance methodologies, IFRS 17, ORSA, MCT, capital management, pricing, or risk management.
  • Experience in developing complex financial statement models.
  • Ability to work within a sophisticated technological environment using various modelling and programming tools such as R/Python.
  • Demonstrated ability to conduct rigorous analysis using critical thinking and judgement to resolve complex issues.
  • Ability to provide technical leadership and coaching.
  • Strong communication, collaboration, and presentation skills.

Preferred Qualifications:

  • Bilingualism (French and English).

About CMHC:

CMHC is an inclusive workplace where diversity of thought and people are recognized, valued, and considered essential to achieving our mission. We're committed to employment equity and encourage women, Indigenous Peoples, persons with disabilities, veterans, and persons of all races, ethnicities, religions, abilities, sexual orientations, and gender identities and expressions to apply.



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